Huntersville Mortgage ProfessionalsGet your solution today Visit Lee's Advice Blog Meet Our Mortgage StaffHome Loan Advice From STSFCStop calling ads Dont be pushed into a house Play the game of nines Sell Before You Buy Monday March 27 Home Loan Market March 23rd Home Loan Commentary Daily Loan Rate Advisory Know the score, Credit Scoring!Latest Home Loan Q & AShould I get Prequalified? When is an ARM better? Should I choose ARM or fixed rate? Do I need w-2 forms? What is a broker's responsibilities? Is my lease option a refinance?Charlotte Home Loan Professionals Lee Sharpe's Blog |
80 / 20 Home loan
As Charlotte home prices continue to climb, borrowers increasingly turn to 100-percent financing, and especially home loans that sidestep the need for mortgage insurance.
One such loan is known as the 80-20 Combo mortgage. The Charlotte home buyer takes out two loans -- the first for 80 percent of the purchase price, and the second for 20 percent of the home's price. Since mortgage insurance is required only on loans greater than 80% of the purchase price (or value) of the home, this combo sidesteps the requirement. Borrowers can also receive closing costs from a property seller, and make this combo loan a true no money down mortgage loan.
“A combination 1st and 2nd mortgage allows buyers to purchase or refinance a home with little to no out-of-pocket expense, while providing the best total monthly payment on the property,” says
Tabitha Sharpe, President of STS Financial Corporation.
"What we're seeing is a lot of young professionals and first time
buyers," she adds. "These are people who have good jobs, and good
credit, but little down payment- The 100% options available are amazing
and very affordable.”
-Some Contributions by Holden Lewis of Bankrate.com
Charlotte 80 / 20 Loan
if this is the loan solution for you and your family, contact STSFC and let us show you the advantages and how we can get you prequalified today.

